BUS 520 QUESTIONS AND ANSWERS (VERIFIED)

1) The market consists of schools, hospitals, nursing homes, prisons, and other institutions that must provide goods and services to people in their care. 2) The purchasing department buys office supplies on a routine basis from a pre-approved list of suppliers. This type of purchase is classified as a ...................... . 3) A .......................... plan establishes a long-term relationship in which the supplier promises to resupply the buyer as needed, at agreed-upon prices, over a specified period of time. 4) ........................... is a key industrial marketing strategy in bidding to build large-scale industrial products such as dams, pipelines, etc. 5) Which of the following is true about industrial buying decisions? 6) When purchasing disposable surgical gowns, Mercy Hospital's vice president of purchasing analyzes whether the hospital should buy disposable gowns or reusable gowns. If the findings favor disposable gowns, then the operating-room administrator compares various competitors' products and prices and makes a choice. Surgeons influence the decision retroactively by reporting their satisfaction with the particular brand. In this situation, the operating-room administrator performs the role of the .................... 7) In most countries, .....................are the major buyers of goods and services. They typically require suppliers to submit bids and often award the contract to the lowest bidder. 8) Small sellers should first concentrate their marketing efforts on reaching ........................ 9) Timken achieved record revenue despite a recession by ................... 10) Many business buyers prefer to buy a total solution to a problem from one seller. This process is also known as ............................. DOWNLOAD FOR MORE SOLUTIONS